Hacker drains $2.5 billion from Binance using EIP-7702 feature
A hacker pulled off a massive $2.5 billion theft from Binance on October 29, 2026, using a feature introduced in Ethereum's EIP-7702.
This feature, rolled out in May 2025, lets wallets run smart contract code if they have the right permissions.
The attacker used it to trick a Binance wallet into running a malicious contract that drained funds in less than four minutes.
Binance will cover user losses
The total amount stolen across different blockchains reached $6.3 billion.
Binance says it will cover user losses and is digging into how the hacker got authorized access: early signs point to a compromised DevOps engineer's laptop.
Some deposits were routed to hacked wallets, making things worse.
While Binance has frozen $3 billion so far, it's still checking for other security gaps and possible authorizations created with its signing tools.